Small-cap altcoins stage a recovery as Bitcoin traders aim to recapture $60K

As a series of attempts to drive the price down to $59,000 and lower continue to test Bitcoin (BTC), holders are continuing to put their faith in it. Bulls have defended this level, but analysts still watch for $63,000 support to be reclaimed before declaring the “dip”.

Although Bitcoin and issues related to ETFs have been the main focus of recent attention, the altcoin market has provided some relief. A few tokens rose to new highs on Nov. 17.

The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro

Data from TradingView and Cointelegraph Markets Pro shows that Oasis Network, Yield Guild Games and AirSwap have been the biggest gainers in the past 24 hours.

Oasis Network launches $160 million fund for development

Oasis Network (ROSE), a privacy-focused, blockchain platform, is designed to facilitate open finance and create a responsible data economy.

VORTECS(tm), data from Cointelegraph Markets Pro, began to detect a bullish outlook on ROSE on Nov. 15, before the recent price rise.

Cointelegraph’s exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It is derived from a combination data points, including trading volume, market sentiment and recent price movements, as well as Twitter activity.

VORTECS(tm), Score (green) vs. the ROSE price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for Rose began to rise on Nov. 15, and it reached an all-time high of 75 just 29 hours before the price spike of 37% the following day.

ROSE’s sudden momentum surged after the announcement of a $160 million Oasis ecosystem fund, which is “dedicated towards supporting and scaling projects constructed on Oasis.”

Yield Guild Games expands their ecosystem

Yield Guild Games (YGG), a play to-earn (P2E), gaming guild and decentralized autonomous organisation (DAO), participates in and invests in various blockchain-based gaming industries and nonfungible tokens.

Cointelegraph Markets Pro and TradingView data show that YGG prices rallied 32.7% overnight after hitting a low at $5.93 on November 16, and then climbed to $7.87 on the 17th. The intraday high was reached at $7.87 as its 24-hour trading volume jumped 110% to $140.5 millions.

YGG/USDT 4-hour chart. Source: TradingView

The project secured new partnerships, cross-platform integrations, and a rapid price increase for YGG. This includes a recent addition of Satoshi’s Legions as well as preparations for Thetan’s Arena’s upcoming launch.

Similar: Nifty news: YGG is partnering with 8 P2E Games, Ice Cube, and Quiznos to drop NFTs

irswap announces its new DEX

Airswap (AST), a peer-to-peer (P2P), decentralized trading protocol on Ethereum (ETH), works in the same manner as Uniswap or SushiSwap. However, Airswap uses gasless technology.

Cointelegraph Markets Pro data shows that the market conditions have been favorable for AST for some time.

VORTECS(tm), Score (green) vs. the AST price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for AST was in the green zone most of the week. It reached an all-time high of 80 on November 14, just 46 hours before the price rose 60%.

AirSwap DAO launched their new open-source P2P centralized exchange (DEX), which offers gasless swaps, thereby enhancing AST’s strength.

The total cryptocurrency market is now worth $2.624 trillion. Bitcoin’s dominance rate at 43.4%.

com. You should do your research before making any investment or trading decision.

https://cointelegraph.com/news/small-cap-altcoins-stage-a-recovery-as-bitcoin-traders-aim-to-recapture-60k